COVANSYS CORP 4
4 · COVANSYS CORP · Filed Jul 5, 2007
Insider Transaction Report
Form 4
COVANSYS CORPCVNS
Transactions
- Other
Common Stock
2007-07-02$34.00/sh−6,906,450$234,819,300→ 0 total - Other
Common Stock Purchase Warrant
2007-07-02$34.00/sh−1,000,000$34,000,000→ 0 totalExercise: $15.00From: 2004-09-15Exp: 2010-03-15→ Common Stock (1,000,000 underlying)
Footnotes (2)
- [F1]Pursuant to the terms of the Merger Agreement, dated April 25, 2007, by and among the Company, Computer Sciences Corporation ("CSC") and Surfside Acquisition Corp., the Company was merged with and into CSC, with CSC as the surviving company, and each outstanding share of Company Common Stock was converted into the right to receive $34.00 per share in cash.
- [F2]Pursuant to the terms of the Merger Agreement, this Company warrant outstanding at the time of the merger was cancelled in exchange for a payment representing the product of (i) the excess of $34.00 over the exercise price per share of such warrant; and (ii) the number of shares of Company Common Stock underlying the warrant.